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As ridesharing technology becomes more ubiquitous and regulators
and taxi cab associations get twisted into pretzels, companies in
the space are becoming fiercely competitive, rapidly pushing into
new territories and slashing prices in an effort to corner the
market.

The only headscratcher is why it took Lyft so long to finally get
to the Big Apple. It seems New York City would have much more
demand for a tech-based ridesharing app than Tulsa, Okla. Lyft
says it needed time to get up to scale for the demand that New
York City was sure to bring. “We wanted to launch in NYC and be
able to keep up with huge demand,” Lyft spokesperson Katie Dally
told Entrepreneur.com.

The move comes just days after Uber temporarily lowered prices on
its UberX service in New York City by 20 percent, with the
company claiming it’s now cheaper than a traditional yellow cab
ride.

While the price-cutting and push into new territories benefits
the consumer, the widespread adoption of ridesharing technology
has another clear winner: It makes entrepreneurship easily
accessible. If you have a car and a smartphone, the likes of
Uber, Lyft and Sidecar allow you to be your own boss with
virtually no overhead. And you can make a pretty penny, too. Uber
has gone on record that the median salary of
a driver in New York City hits six figures.